Inflation came in at 2.3% in May, accelerating from April’s 2.0% result, thus rising closer to the midpoint of the Central Bank’s 2.0%–4.0% target rate. In addition, core inflation edged up to 2.0% (April: 1.9%).

Annual average inflation clocked in at 2.4%, unchanged from April’s result.

The Central Bank projects year-end inflation of 2.6% in 2019 and of 3.0% in 2020.

Chile Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation to end 2019 at 2.7%, which is unchanged from last month’s forecast. The panel sees inflation ending 2020 at 2.9%.

Author:Nicolás J. Aguilar, Economist

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